Laura Davison

Sen. Ron Wyden proposes ending existing tax breaks for fossil fuels and creating new incentives for low-and-no carbon energy sources.

President Joe Biden told a group of lawmakers that a permanent expansion could be difficult to pass the Senate.

Lawmakers should closely study the impact of the deduction before making changes, the No. 3 House Democrat James Clyburn said.

Trump’s legislative triumph has put President Biden in a bind.

Increasing funding for the IRS enforcement efforts could yield enough to pay for reinstating the full deduction.

Democratic and Republican House members are forming a bipartisan group to push for a repeal of the $10,000 cap on state and local tax deductions, demonstrating a broadening campaign to restore a valuable tax break.

The top Republican on the House Ways and Means Committee said he would leave Congress at the end of this term.

Seventeen Democrats told House Speaker Nancy Pelosi they would be ready to oppose any tax legislation that doesn't restore the break.

The new figure for the tax gap is multiples higher than previous estimates from the federal government.

States that pass tax cuts to conform with recent federal tax changes won’t run afoul of a rule that says states can’t use federal stimulus funding to pay for cuts.

The U.S. is proposing that countries should be able to tax more corporate profits based on revenues within their borders, according to two people familiar with the offer.

The administration views GOP attacks on its proposal to use corporate tax hikes to pay for a vast infrastructure program as a losing argument in the battle for public opinion.

The Treasury secretary says the plan aims to remove incentives for companies to shift investments and profit abroad and raise more money for critical needs at home.

The challenge for legislators will be to minimize loopholes that could diminish the impact.

Three top Senate Democrats released a proposal to overhaul the U.S. international tax system that could shape the outcome of the global tax revamp that the White House is pursuing to fund infrastructure spending.

The corporate tax-cut party President Donald Trump kicked off will soon be over if his successor proves able to enact proposals to roll back half of the 2017 domestic income-tax reduction and to radically revamp levies on profits earned abroad.

Estimates suggest that the total of the net operating loss refunds may eventually top $25 billion.

President Joe Biden’s Treasury Department is calling for a “more robust minimum tax” on profits earned by American corporations overseas to remove incentives for companies to shift earnings outside U.S. borders.

The U.S. Senate approved a two-month extension of a popular U.S. small-business relief program that still has about $79 billion left to distribute, giving companies until the end of May to apply for the forgivable loans.

The government has so far sent about 127 million stimulus payments to individuals and households.